How much money do people get back when they sell thier homes?

Answer 1

When you sell your house the first thing that is paid back is the bank for the mortgage. Then there are all kinds of fees to be paid along with a fee to the real estate agent (if you use one). Always use an attorney for closings - usually a couple hundred dollars. Then any back taxes that are owed are taken out - this is put in an escrow account and includes up to the day you moved out. Any liens on the house are taken out at this time also. Anything left over is yours. Be aware that federal and state taxes may be owed if you don't reinvest the money in real estate within a stipulated period of time.

Answer 2

There's not a cut and dry answer for that. It depends on what your current value is on your place, and all the variables factored in. Whether you are deciding to sell or not, the first thing I would do is to meet with a real estate agent in your immediate area. They can run comparable sales to come up with it's value. They are also trained to ask all the pertinent questions, and they have the resources, in order to answer your question. It does not cost you anything to do this. I would meet with one in one of the larger, more established real estate offices in your area, that will be professional and honest, and get accurate information. Remember, there could be significant tax and other consequences, so do it right. Hope that helps.

DB

Answer 3

seriously?